Hanging Together, Together Hung? Career Implications of Interpersonal Ties Between CEOs and Top Managers
BuR Business Research Journal, Vol. 6, No. 1, May 2013
25 Pages Posted: 18 May 2013
Date Written: May 6, 2013
Is it good or bad for senior executives to have strong interpersonal ties to the CEO? We argue that a strong relationship with the CEO raises the likelihood that a top manager stays in office or makes an upward career move when the CEO leaves office voluntarily. At the same time, such interpersonal ties also reinforce the negative spillover effects of a dismissal of the CEO on the career prospects of the manager concerned. Our empirical analysis lends support to both arguments. We contribute to managerial succession research by underlining the ambivalence of interpersonal ties within top management teams.
Keywords: corporate governance, interpersonal ties, top executive careers, top executive turnover, top management teams
JEL Classification: D85, M51, G30
Suggested Citation: Suggested Citation